Daleready Ltd - Accounts to registrar (filleted) - small 18.2

Daleready Ltd - Accounts to registrar (filleted) - small 18.2

DALEREADY LTD - Company Information

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REGISTERED NUMBER: 03397104 (England and Wales)



















DALEREADY LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017






DALEREADY LTD (REGISTERED NUMBER: 03397104)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


DALEREADY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2017







DIRECTORS: Mr M A Cymerman
Mr P M Noe





SECRETARY: Mr M A Cymerman





REGISTERED OFFICE: First Floor
94 Stamford Hill
London
N16 6XS





REGISTERED NUMBER: 03397104 (England and Wales)





ACCOUNTANTS: Sugarwhite Meyer Accountants Ltd
First Floor
94 Stamford Hill
London
N16 6XS
Page 1
DALEREADY LTD (REGISTERED NUMBER: 03397104)

BALANCE SHEET
31 DECEMBER 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 208 277
Investment property 6 5,172,410 5,172,410
5,172,618 5,172,687

CURRENT ASSETS
Debtors 7 194,894 145,589
Cash at bank 141,588 209,570
336,482 355,159
CREDITORS
Amounts falling due within one year 8 696,763 716,006
NET CURRENT LIABILITIES (360,281 ) (360,847 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
4,812,337
4,811,840

CREDITORS
Amounts falling due after more than one
year
9
3,008,236
3,072,248
NET ASSETS 1,804,101 1,739,592

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,804,099 1,739,590
1,804,101 1,739,592

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at
the end of each financial year and of its profit or loss for each financial year in accordance with the
requirements of Sections 394 and 395 and which otherwise comply with the requirements of the
Companies Act 2006 relating to financial statements, so far as applicable to the company.

The notes on pages 4 to 6 form part of these financial statements

Page 2
DALEREADY LTD (REGISTERED NUMBER: 03397104)

BALANCE SHEET - continued
31 DECEMBER 2017


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 15 November 2018 and were signed on
its behalf by:





Mr M A Cymerman - Director


The notes on pages 4 to 6 form part of these financial statements

Page 3
DALEREADY LTD (REGISTERED NUMBER: 03397104)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017

1. STATUTORY INFORMATION

Daleready Ltd is a private company, limited by shares , registered in England and Wales. The
company's registered number and registered office address can be found on the Company Information
page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on the historical cost basis, as modified to include
investment properties measured at fair value through profit or loss.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements,
estimates and assumptions about the carrying amounts of assets and liabilities that are not readily
apparent from other sources. The estimates and associated assumptions are based on historical
experience and other factors that are considered to be relevant. The estimates and underlying
assumptions are reviewed on an ongoing basis.

Turnover
Turnover is recognised at the fair value of the consideration receivable in respect of services provided
in the normal course of business. The turnover of the company is represented by rents and charges
receivable in respect of the company's investment portfolio. Rental income is accounted for on an
accruals basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially
recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value
are recognised in profit or loss.

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Profit and Loss Account, except
to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been
enacted or substantively enacted by the balance sheet date.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2016 - NIL).

Page 4
DALEREADY LTD (REGISTERED NUMBER: 03397104)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2017

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 January 2017
and 31 December 2017 57,198
DEPRECIATION
At 1 January 2017 56,921
Charge for year 69
At 31 December 2017 56,990
NET BOOK VALUE
At 31 December 2017 208
At 31 December 2016 277

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2017
and 31 December 2017 5,172,410
NET BOOK VALUE
At 31 December 2017 5,172,410
At 31 December 2016 5,172,410

The investment properties are stated at directors' valuation. The valuation was made on an open
market value basis, based on similar properties in the same location.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade debtors 30,394 105,589
Other debtors 164,500 40,000
194,894 145,589

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Bank loans and overdrafts 45,542 61,332
Taxation and social security 45,371 80,902
Other creditors 605,850 573,772
696,763 716,006

Page 5
DALEREADY LTD (REGISTERED NUMBER: 03397104)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2017

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2017 2016
£    £   
Bank loans 3,008,236 3,072,248

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years by
instalments
2,841,480
2,826,920

10. SECURED DEBTS

The following secured debts are included within creditors:

2017 2016
£    £   
Bank loans 3,053,778 3,133,580

The bank loans are secured by legal charges over the company's investment properties.

11. RELATED PARTY DISCLOSURES

Included in other debtors is £164,500 (2016: £40,000) due from a related company, Housebrick
Limited, of which the directors of this company are also directors.

Included in other creditors is £62,000 (2016: £62,000) due to a related company, Linkfield Investments
Limited, of which the directors of this company are also directors.

Page 6